Rocket Lab Corporation · NASDAQ:RKLB
Rocket Lab — Rocket Lab USA — H1 2021 Earnings Presentation
26 slides from Rocket Lab's earnings presentation, Sep 8, 2021
Slide 1: 1H 2021 Investor Update
Exhibit 99.2 Rocket Lab USA, Inc 1H 2021 INVESTOR UPDATE SEPTEMBER 8, 2021 rocketlabusa.comExhibit 99.2 Rocket Lab USA, Inc 1H 2021 INVESTOR UPDATE SEPTEMBER 8, 2021 rocketlabusa.com
Slide 2: Disclaimer and Forward Looking Statements
DISCLAIMER AND FORWARD LOOKING STATEMENTS Forward Looking Statements and disruptions in expansion efforts; our also exacerbate the risks described therein), Use of Non-GAAP Financial Measures We are providing this information to enable dependence on a limited number of customers; as well as other re
Slide 3: Today's Presenters
Today’s Presenters Peter Beck Adam Spice Founder, CEO, Chief Engineer Chief Financial Ofc fi er 3 3 R Ro oc ck ke et L t La ab U b US SA A , Inc
Slide 4: Agenda
AGENDA Introduction 1 Key Accomplishments 2 Financial Highlights and Outlook 3 Sell-Side Q&A 4 Upcoming Conferences and Events 5 4 Rocket Lab USA, IncAGENDA Introduction 1 Key Accomplishments 2 Financial Highlights and Outlook 3 Sell-Side Q&A 4 Upcoming Conferences and Events 5 4 Rocket Lab USA, Inc
Slide 5: Rocket Lab at a glance
Rocket lab at a glance A vertically integrated provider of small launch services, satellites and spacecraft components Delivering end-to-end space solutions Launch: Proven rocket delivering dedicated access to orbit for 3+ years ND 21 3 2 2 7 105 Satellites Most frequently Launches Launch Mission Su
Slide 6: Key 1H 2021 Accomplishments: Three Launches in 1H
Key 1H 2021 Accomplishments Three Launches in 1H REACHED OUR 20TH ELECTRON LAUNCH 6 Rocket Lab USA, IncKey 1H 2021 Accomplishments Three Launches in 1H REACHED OUR 20TH ELECTRON LAUNCH 6 Rocket Lab USA, Inc
Slide 7: Deployed satellite to orbit
DEPLOYED th 100 SATELLITE TO ORBIT 7 Rocket Lab USA, IncDEPLOYED th 100 SATELLITE TO ORBIT 7 Rocket Lab USA, Inc
Slide 8: Successfully recovered 2nd booster
SUCCESSFULLY RECOVERED nd 2 BOOSTER Further advancing Electron recoverability program to enable increased launch cadence and reduce our cost per mission. 8 Rocket Lab USA, IncSUCCESSFULLY RECOVERED nd 2 BOOSTER Further advancing Electron recoverability program to enable increased launch cadence and
Slide 9: Backlog grew from $59.9m to $141.4m
+ 5 launch deal with + NASA study contract for twin Blacksky Global Mars spacecraft as part of ESCAPADE program Backlog + 3 Photon deal with Varda + Entered into contract to Space Industries to enable deploy GA-EMS developed grew from in-space manufacturing Orbital Test Bed (OTB) satellite $59.9m to
Slide 10: Executed merger agreement and added three board members
EXECUTED ADDED MERGER THREE BOARD agreement MEMBERS + + + WITH VECTOR ACQUISITION CORP Merline Saintil Jon Olson Alex Slusky 10 Rocket Lab USA, IncEXECUTED ADDED MERGER THREE BOARD agreement MEMBERS + + + WITH VECTOR ACQUISITION CORP Merline Saintil Jon Olson Alex Slusky 10 Rocket Lab USA, Inc
Slide 11: Announced Neutron Rocket
Announced NEUTRON ROCKET AN 8 TON MEDIUM CLASS LAUNCH VEHICLE DEVELOPMENT PROGRAM 11 Rocket Lab USA, IncAnnounced NEUTRON ROCKET AN 8 TON MEDIUM CLASS LAUNCH VEHICLE DEVELOPMENT PROGRAM 11 Rocket Lab USA, Inc
Slide 12: Additional accomplishments after June 2021
Additional accomplishments AFTER 30 JUNE 2021 12 Rocket Lab USA, Inc
Slide 13: US Space Force mission successfully launched July 29th
ADDITIONAL ACCOMPLISHMENTS AFTER 6/30/2021 US SPACE FORCE MISSION SUCCESSFULLY LAUNCHED ON JULY 29TH, 2021 13 Rocket Lab USA, IncADDITIONAL ACCOMPLISHMENTS AFTER 6/30/2021 US SPACE FORCE MISSION SUCCESSFULLY LAUNCHED ON JULY 29TH, 2021 13 Rocket Lab USA, Inc
Slide 14: Expanded backlog to $174m as of August 31, 2021
ADDITIONAL ACCOMPLISHMENTS AFTER 6/30/2021 + U ndisclosed commercial C O M M E R C IAL & and government launch G O V ER N M EN T contracts and satellite C U S T O M E R component sales FURTHER + A urora Propulsion Technologies contract to launch a satellite to test space Expanded junk removal techno
Slide 15: Signed five launch deal with Kinéis
ADDITIONAL ACCOMPLISHMENTS AFTER 6/30/2021 SIGNED FIVE LAUNCH DEAL WITH Kinéis TO DEPLOY ENTIRE IOT CONSTELLATION WITH ELECTRON 15 Rocket Lab USA, IncADDITIONAL ACCOMPLISHMENTS AFTER 6/30/2021 SIGNED FIVE LAUNCH DEAL WITH Kinéis TO DEPLOY ENTIRE IOT CONSTELLATION WITH ELECTRON 15 Rocket Lab USA, Inc
Slide 16: Reaction wheel production
ADDITIONAL ACCOMPLISHMENTS AFTER 6/30/2021 REACTION WHEEL PRODUCTION Commenced construction of new production line capable of supplying up to 2,000 reaction wheels per year to full gr fi owing demand from satellite constellation customers. 16 Rocket Lab USA, IncADDITIONAL ACCOMPLISHMENTS AFTER 6/30/
Slide 17: Closed de-SPAC merger with Vector Acquisition Corporation
ADDITIONAL ACCOMPLISHMENTS AFTER 6/30/2021 SUCCESSFULLY closed de-spac MERGER transaction WITH VECTOR ACQUISITION CORPORATION + $ 777M in gross proceeds from the PIPE and cash from Vector Trust. 17 Rocket Lab USA, IncADDITIONAL ACCOMPLISHMENTS AFTER 6/30/2021 SUCCESSFULLY closed de-spac MERGER trans
Slide 18: COVID-19 impact
COVID-19 IMPACT LAUNCH CADENCE IMPACTED BY NEW ZEALAND'S COVID-19 RESTRICTIONS, SOME OF THE STRICTEST MEASURES IN THE WORLD. 18 Rocket Lab USA, IncCOVID-19 IMPACT LAUNCH CADENCE IMPACTED BY NEW ZEALAND'S COVID-19 RESTRICTIONS, SOME OF THE STRICTEST MEASURES IN THE WORLD. 18 Rocket Lab USA, Inc
Slide 19: Review of Financial results
Review of Financial results Increasing diversity in $29.5M 237% REVENUE IN 1H YEAR-ON-YEAR REVENUE GROWTH revenue, with Space Systems contributing 18% of total revenue in the period, compared to Year-On-Year Revenue Growth and Gross Margin 3% in the prior year. $24.1 $8.5 Expansion in gross $5.4 $3.
Slide 20: Review of Financial results: R&D vs. SG&A Spending
Review of Financial results R&D vs. SG&A Spending $15.6 Targeted and aggressive $13.7 investments in TAM $11.3 expanding technical capabilities with a 156% Year-on-Year $6.1 increase in R&D spending, compared with a 21% increase in SG&A. 1H'20 1H'21 R&D ($M) SG&A ($M) 20 Rocket Lab USA, Inc
Slide 21: Statement of Operations and GAAP to Non-GAAP Reconciliations
CONSOLIDATED STATEMENT OF OPERATIONS GAAP to Non-GAAP Reconciliations AND COMPREHENSIVE LOSS Six Months Ended Six Months Ended June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 REVENUES 29,472,311 8,753,013 Cost of goods sold 24,001,754 6,264,592 GAAP Gross Margin 3,873,965 (5,878,626) Product
Slide 22: Statement of Cash Flows
Statement of Cash Flows Six-Months Ended June 30 2021 2020 Cash flows from operating activities: Net loss $ (32,547) $ (23,453) Adjustments to reconcile net (loss) to net cash used in operating activities: Depreciation and amortization 4,847 3,663 Amortization of deferred debt costs 149 – Stock comp
Slide 23: Financial Outlook
Financial Outlook Q3 GAAP and Non-GAAP Q3 Operating Expense, Interest Q3 2021, Q4 2021, and Full Year 2021 1 1 Revenue Outlook Gross Margins Expense and Adjusted EBITDA + E xpect Q3 Revenue of approximately + Expec t GAAP gross margins of -221%, + E xpect GAAP Operating Expenses $4 million to $5 mil
Slide 24: Q&A
Q&A 24 Rocket Lab USA, IncQ&A 24 Rocket Lab USA, Inc
Slide 25: Upcoming conferences
Upcoming conferences Deutsche Bank TechCrunch UBS Disruptive Technology Virtual Technology Conference Disrupt 2021 CEO Summit September 10, 2021 September 22, 2021 October 19, 2021 Peter Beck Peter Beck Peter Beck Adam Spice Founder & Chief Executive Chief Financial Officer Founder & Chief Executive
Slide 26: . All rights reserved.
Rocket Lab USA, Inc. All rights reserved.